From Bloomberg: Dubaiís effort to resolve its debt woes is gathering pace after Dubai International Capital LLC presented plans to sell assets to repay $2.6 billion.
The company, part of Dubai Holding LLC that is owned by the emirateís ruler Sheikh Mohammed Bin Rashid Al Maktoum, has proposed to sell assets over five years and sought a second extension until November on the repayment of a $1.25 billion loan, two people familiar with the plan said yesterday...........................................Full Article: Source